Richardson Electronics (NASDAQ:RELL) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Richardson Electronics (NASDAQ:RELL - Get Free Report) issued its quarterly earnings data on Wednesday. The technology company reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.07, Zacks reports. Richardson Electronics had a negative net margin of 0.55% and a positive return on equity of 2.07%. The business had revenue of $51.89 million for the quarter, compared to analyst estimates of $53.86 million.

Richardson Electronics Price Performance

RELL stock traded down $0.34 during midday trading on Friday, hitting $10.52. The company's stock had a trading volume of 73,662 shares, compared to its average volume of 57,295. Richardson Electronics has a twelve month low of $7.57 and a twelve month high of $15.51. The company's fifty day moving average price is $9.46 and its 200 day moving average price is $10.78. The stock has a market capitalization of $151.59 million, a P/E ratio of -131.48, a PEG ratio of 2.79 and a beta of 1.00.

Richardson Electronics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Friday, August 8th will be paid a $0.06 dividend. The ex-dividend date is Friday, August 8th. This represents a $0.24 annualized dividend and a yield of 2.28%. Richardson Electronics's payout ratio is currently -141.18%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Richardson Electronics from a "buy" rating to a "hold" rating in a report on Saturday, April 19th.

Institutional Investors Weigh In On Richardson Electronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its stake in Richardson Electronics by 7.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 85,081 shares of the technology company's stock valued at $950,000 after buying an additional 5,802 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Richardson Electronics by 17.0% during the 1st quarter. Acadian Asset Management LLC now owns 83,273 shares of the technology company's stock worth $928,000 after purchasing an additional 12,097 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Richardson Electronics during the 1st quarter worth about $198,000. 71.95% of the stock is currently owned by institutional investors and hedge funds.

About Richardson Electronics

Richardson Electronics, Ltd. engages in the provision of engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and radio frequency (RF), microwave and power components used in semiconductor manufacturing equipment, RF, and wireless and industrial power applications, as well as various applications including broadcast transmission, CO2 laser cutting, diagnostic imaging, dielectric and induction heating, energy transfer, high voltage switching, plasma, power conversion, radar, and radiation oncology.